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Markets and Cryptos

May 10, 2025
Sydney, Australia

Markets:

ASX futures up 12 points/0.2% to 8261
AUD +0.1% at US64.09¢
Bitcoin +1.8% to $US103,152
Dow -0.3%
S&P -0.1%
Nasdaq -0.00%
Gold +0.6% to $US3326.57 an ounce
Oil +1.7% at $US63.92 a barrel
Iron ore +0.5% at $US97.00 a tonne

Cryptos Today: (Near Live)

Bitcoin. $102,887.02 USD. - 0.18%
Ethereum. $2,331.30. +6.50%
Tether $1 USD -0.10%
XRP. $2.35. +1.83. +2.4%
BNB. $638.149. +2.35%
Solana. $172.18. +6.56%
USD Coin. $1 USD -0.17%
Dogecoin: $0.2045 USD +5.52%
TRON. $0.2562 USD +3.06%
Cardano $0.7801 USD +2.20%
Wrapped Bitcoin $102,930.51 -0.28%

News

Crypto News

Bitcoin Surges Past $100,000: Bitcoin reclaimed the $100,000 mark for the first time since February, driven by optimism around a U.S.-UK trade deal announced by President Trump and UK Prime Minister Keir Starmer. The deal, which includes a 10% U.S. tariff on UK goods and reduced UK tariffs, has fueled a broader market rally. Bitcoin was trading at $102,700 late Thursday, with analysts noting potential support at $100,000 and resistance near $107,000.

Other Cryptocurrencies Rally: Ether surged over 14% to $2,050.46, its highest since late March, while Solana and Dogecoin gained 10% and 12%, respectively. The total crypto market cap rose 2.5% to $3.09 trillion.

Stablecoin Bill Blocked: The GENIUS Act of 2025, aimed at regulating stablecoins, was stalled in the U.S. Senate on May 8 by Democratic lawmakers, citing concerns over President Trump’s ties to the crypto industry, including his family’s World Liberty Financial stablecoin venture.

German Seizure of Crypto Assets: German authorities seized €34 million ($38 million) in cryptocurrencies, including Bitcoin, Ether, Litecoin, and Dash, from the eXch platform, linked to laundering funds from Bybit’s $1.4 billion hack in February 2025.

SEC and Ripple Settlement: The SEC and Ripple filed a joint letter on May 8 to dissolve an August 2024 injunction against Ripple and return $75 million of $125 million in penalties held in escrow.

Trump’s Crypto Ventures: World Liberty Financial, a Trump-affiliated firm, unveiled a stablecoin and secured a $2 billion deposit deal with an Emirati fund. However, Democratic senators, including Elizabeth Warren, are pushing back against crypto legislation, alleging corruption tied to Trump’s crypto ventures.

Bitcoin Investment Moves: Strategy (formerly MicroStrategy) announced a $180 million Bitcoin purchase, adding 1,895 BTC, while a new whale withdrew $50 million in Bitcoin from Binance.

Ethereum Upgrades: Ethereum’s Pectra protocol upgrade went live on May 7, boosting investor interest. Analysts predict ETH could hit $5,925 in 2025, with long-term forecasts up to $15,575 by 2030.

Market Sentiment: The crypto market is in a transitional phase, with Bitcoin down 14% from its January 2025 high of $109,079. Analysts like Standard Chartered’s Geoff Kendrick forecast Bitcoin reaching $120,000 by Q2 2025 and $200,000 by year-end. (Grok)

News

A sharp crypto market awakening

Market Picture

TThe crypto market has added about 5.8% to its capitalisation over the past 24 hours, bringing it to $3.24 trillion. This is roughly the area where the market has been consolidating for most of February. A pause halfway to the area of historical highs above 3.50 looks like a logical respite. Back in November, the market surged without major pauses—but this time, the momentum appears more measured, with less of the earlier excitement.

The crypto market sentiment index reached 73, which is only a couple of steps away from extreme greed and is the highest since late January. Often, this is a working sentiment for continued growth.

Bitcoin has been reaching levels above 104000 this morning, adding an impressive 5% in the last 24 hours and 33% in 30 days. At current highs, all eyes are on how soon it will reach the all-time highs, which are less than 6% away, and whether or not it can overcome them outright. While similar rallies have broken records in the past, we still expect some consolidation near the highs before any decisive move higher.

The rocket of the last few days has certainly been Ethereum, which soared 23% in the last 24 hours, strengthening twice as fast as Bitcoin over the month. The technique worked perfectly. ETHUSD stomped around the 50-day moving average for a long time and rose in value by a third in less than two days to $2380. The rise to 2700 looks like an ‘easy part’ of the growth. Further upside will already have to be fought for.

News Background

On May 8, bitcoin's realised capitalisation reached a record $890.74 billion, which could indicate that BTC is poised for significant growth, CryptoQuant noted. The metric is the aggregate value of all coins in circulation based on the quotes at which they were last transferred.

Ethereum shows the best weekly performance in the top 20 cryptocurrencies. Nansen notes the accumulation of ‘smart money’ by institutions like Wintermute.

U.S. banks can perform crypto transactions on customer requests, provide custodial services through third parties, and generate tax returns on digital assets. This is stated in a clarification from the US Office of the Comptroller of the Currency (OCC).

Payments company Stripe has launched a product called Stablecoin Financial Accounts. It will allow businesses in 101 countries to hold balances in dollar-denominated Stablecoins and receive and send fiat and cryptocurrencies. (FxPro)

Best Quotes Of The Day

An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

"Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Markets and Cryptos

May 7, 2025
Sydney, Australia

Markets

ASX futures down 23 points/0.3% to 8146

AUD +0.3% to US64.87¢

Bitcoin flat at $US94,534

Wall St:
Dow -1.0%
S&P -0.7%
Nasdaq -0.9%
VIX +1.18 to 24.82
Gold +2.4% to $US3414.77 an ounce
Oil +3.4% to $US62.26 a barrel
Iron ore +1.2% to $US97.70 a tonne
10-year yield: US 4.31% Australia 4.33%

News

Bitcoin. $95,096. 2.41%
Ethereum. $1,789.65. 1.60%
Tether. $1.99. +0.16%
XRP. $2.14. -0.46%
BNB. $599.88. 0.05%
Solana. $144.79. 1.351%

News

Crypto News Today

Bitcoin Price Outlook: Binance founder Changpeng "CZ" Zhao predicts Bitcoin could reach $500,000 to $1 million this market cycle, citing institutional adoption, government accumulation, and pro-crypto U.S. policies. Bitcoin is currently trading around $94,376, with some analysts forecasting a 2025 high of ~$168,000.

Florida Bitcoin Reserve Bills Withdrawn: Florida’s House Bill 487 and Senate Bill 550, which aimed to establish a state Bitcoin reserve, were withdrawn from consideration on May 3, marking a setback for state-level crypto initiatives.

Trump Family Crypto Ventures: The Trump-affiliated World Liberty Financial (WLFI) is gaining traction. Its stablecoin, USD1, is being used for a $2 billion investment by Abu Dhabi’s MGX into Binance. The Trump family’s crypto activities, including a $TRUMP meme coin, have sparked Senate backlash, with Democrats raising concerns over conflicts of interest and pushing for stricter stablecoin regulations.

BNB ETF Filing: VanEck has filed for the first U.S. BNB exchange-traded fund, which could stake BNB tokens, signaling growing institutional interest in Binance’s native token.

Crypto Market Trends: Bitcoin remains steady at ~$93,831, while Ethereum (ETH) and XRP are seeing slight declines. Analysts suggest ETH may outperform XRP in May due to stronger technical setups. The broader crypto market cap dipped slightly, with mixed altcoin performance.

Regulatory and Institutional Moves: Morgan Stanley plans to offer crypto trading on its E*Trade platform by 2026. U.S. banks no longer need Federal Reserve notification for crypto activities, a significant regulatory win.

Crypto-Related Crime: French police rescued the father of a crypto entrepreneur kidnapped for ransom, highlighting a rise in crypto-related abductions in France. (Grok)

News

Blockchain News Today

Ethereum Pectra Upgrade: Ethereum’s mainnet is undergoing the Pectra upgrade today, marking its most significant code change since the Merge in 2022. This upgrade includes 11 Ethereum Improvement Proposals (EIPs) aimed at enhancing user-friendliness, staking experiences, wallet features, and overall blockchain efficiency. Originally planned for 2024, the upgrade was delayed due to its complexity.

Crypto Market Trends: As of May 6, Bitcoin remains stable at around $93,831, while Ethereum and XRP have seen slight declines. Analysts are watching for potential bigger moves in 2025, with Bitcoin predicted to possibly hit $167,598.22 this year and surpass $900,000 by 2030, driven by increased adoption and whale activity.

Maldives Blockchain Hub: A $9 billion blockchain hub project in the Maldives is gaining attention as a transformative initiative for the region’s crypto ecosystem, highlighting blockchain’s growing global infrastructure.

Tether’s AI Platform: Tether’s CEO, Paolo Ardoino, has unveiled a new AI platform with crypto payment support, building on their December 2024 announcement. This move signals further integration of blockchain with AI technologies.

Regulatory Shifts: Recent U.S. policy changes allow banks to offer Bitcoin and crypto services without Federal Reserve notification, a significant win for crypto adoption. This has sparked bullish sentiment, particularly for Ethereum, which is seen as a hub for stablecoin and onchain services.

Worldcoin’s U.S. Expansion: Sam Altman’s Worldcoin is deploying biometric “orbs” in U.S. cities to streamline crypto wallet security, aiming to make transactions more user-friendly and secure. (Grok)

News

The US ran a record trade deficit in March. It will be worse in April

In March, the US trade deficit with other countries reached unprecedented levels, driven by a rush to purchase goods ahead of anticipated tariffs. This surge comes amidst the backdrop of the US President’s striking ‘America’s Liberation Day’ tariff announcement, with retaliatory tariffs following in April.

The trade deficit is an important fundamental pressure factor on the dollar, and it promises to become even stronger in April’s data. As a result, we are seeing temporary anomalies in the import numbers, which have been on a tear since December, adding over 27% to March last year.

Exports, on the other hand, are still within the trend of the last three years, adding 6.7% YoY to $278.5bn. Still, it doesn’t quite match the record-breaking $140.5 billion deficit and $419 billion in imports.

These alarming numbers are likely just a preview, with a downturn expected in the coming months—though it will probably be less dramatic. This will give the illusion that tariffs are working. However, it’s more accurate to take a long-term view, factoring in both the unusual spike in imports and the potential drop that may follow. It would not be surprising if the net effect is very controversial. (FxPro)

News

Gold News Today

Gold prices rose to a two-week high on Tuesday, May 6, 2025, driven by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports. Spot gold gained over 2%, reaching around $3,317 per ounce, supported by a weaker U.S. dollar and safe-haven demand. Investors are focused on the Federal Reserve’s policy meeting outcome on May 7, as higher interest rates typically reduce the appeal of non-yielding gold. In India, 24-carat gold prices climbed to ?95,740 per 10 grams, while silver saw a slight decline to ?96,900 per kilogram. Geopolitical tensions, including Middle East conflicts, and uncertainty over U.S.-China trade talks continue to bolster gold’s appeal.

News: Business, Markets, Comms, World News, Headlines, Australia

May 5, 2025

Markets

Australian Dollar: $0.6444 USD (up $0.0061 USD)
Iron Ore June Spot Price (SGX): $96.00 USD (up $0.80 USD)
Oil Price (WTI): $58.29 USD (down $0.70 USD)
Gold: $3,241.82 USD (up $4.35 USD)
Copper (CME): $4.6730 USD (up $0.0415 USD)
Bitcoin: $95,720.18 USD (down 0.61%)
Dow Jones: 41,317.43 (up 564.47 points)

Markets: Update

ASX futures up 0.4%/32 points, to 8280 points

AUD +0.3% $US64.55¢
Bitcoin -0.6% to $US95,679

Wall Street:

Dow +1.4%
S&P +1.5%
Nasdaq +1.5%
VIX -1.9 to 22.68 points
Gold steady at $US3240.49 an ounce
Oil -1.4% to $US61.29 a barrel
Iron ore +1% to $US96 a tonne
10-yr yield: US 4.31% Australia 4.21%

News

'Return to office' push to go on

The Minerals Council of Australia's chairman Andrew Michelmore says the Coalition's bungled policy on public servants working from home is likely to have been one of many issues that contributed to its massive election loss. Michelmore and property developer Tim Gurner both contend that working from home is more appropriate in specific industries, rather than across the economy; the latter believes that companies that encourage staff to engage with each other in the office rather than remotely are the most likely to succeed over the next decade. (Roy Morgan Summary)

News

Media

Foxtel boss welcomes a bold new era

Foxtel CEO Patrick Delany says companies that "stand still" are unlikely to survive in Australia's current media landscape. He adds that Foxtel will have greater capacity to adapt and evolve following its acquisition by UK-based DAZN, which will in turn result in a better product for its pay-TV and streaming customers. Delany has rejected suggestions that the quality of Foxtel's coverage of Australian sports will be adversely affected by a move to cut about 100 jobs. Foxtel was previously majority-owned by News Corp, which will emerge from the deal with a six per cent stake in DAZN. (RMS)

News

Main parties focused ad spend on TV

Analyis by Australian video measurement firm Adgile shows that the nation's political parties spent more than $54m on free-to-air and broadcast video-on-demand advertising during the election campaign. Free TV Australia CEO Bridget Fair says this demonstrates that TV is still a trusted and highly effective platform for connecting with voters. Meanwhile, a total of $17m was spent on YouTube advertising across all parties. (RMS)

News

'Force big tech to pay up': Media firms

News Corp Australia's executive chairman Michael Miller has urged the re-elected federal government to overhaul the news media bargaining code. He says it is more than a year since the nation's political leaders resolved that technology platforms must renew their revenue-sharing deals with news publishers, and he contends that Labor must set a timetable for the tech giants to negotiate new deals. Nine Entertainment CEO Matt Stanton and Seven West Media CEO Jeff Howard have expressed similar views. (Roy Morgan Summary)

News

Rio Tinto weighs up rare earths market

May 2, 2025

Rio Tinto CEO Jakob Stausholm said last Thursday the mining company's board had discussed rare earths during the week, with Stausholm speaking after its AGM in Perth. He said the board would take a "serious Dlook" at the potential role that rare earths could play in Rio Tinto's portfolio, while he commented that critical minerals are often present in Rio's existing operations as a by-product. Rio Tinto chairman Dominic Barton says that expanding into critical minerals could help strengthen Rio's social licence to operate, while he noted that big mining companies like Rio Tinto are yet to establish much of a presence in the critical minerals sector. (Mining Dot Com)

News

Headlines Today

International News:

Russian President Vladimir Putin expresses hope that nuclear weapons won't be needed in Ukraine, ahead of a unilateral three-day ceasefire from May 8-10 to mark the 80th anniversary of WWII victory. Ukrainian President Volodymyr Zelenskyy doubts Russia’s commitment to the truce.

India-Pakistan tensions escalate after a terror attack in Pahalgam; India bans imports from Pakistan and suspends postal and maritime links.

An Air India flight from Delhi to Tel Aviv was diverted to Abu Dhabi due to a missile attack near Tel Aviv’s airport, with flights suspended until May 6.

Chinese President Xi Jinping to visit Russia from May 7-10 for WWII victory celebrations.

U.S. News:

Texas Governor signs the largest U.S. school voucher law, marking a conservative shift in education policy.

President Donald Trump proposes a $163 billion cut to the U.S. budget, targeting domestic spending.

Trump sparks controversy by posting an AI-generated image of himself as a pope, drawing online backlash.

Trump announces 100% tariffs on foreign films made outside the U.S., impacting international cinema.

Business & Economy:

Billionaire Warren Buffett announces he will step down as CEO of Berkshire Hathaway by the end of 2025, naming Greg Abel as successor.

State Bank of India (SBI) reduces lending rates, with Repo Linked Lending Rate down to 8.25% and External Benchmark Based Lending Rate to 8.65%, effective April 15, 2025.

Entertainment & Culture:

The Met Gala 2025 in NYC highlights Black dandyism, drawing global attention.

Columbia University to announce the 2025 Pulitzer Prize winners in journalism, books, drama, and music.

Fans celebrate Tatsuya Fukazawa’s 33rd birthday, member of Japanese idol group Snow Man, trending on X.

Sports:

Norway’s Casper Ruud wins the Madrid Open final against Jack Draper in a 7-5, 3-6, 6-4 match.

China’s Liu Shengshu and Tan Ning win the women’s doubles badminton final at the BWF Sudirman Cup in Xiamen, China.

Regional News:

Myanmar’s Shwedagon Pagoda attracts over 2.5 million visitors in the first four months of 2025.

Australia’s Labor Party projected to win a huge majority in the 2025 federal election, with around 90 seats.

Other Notable Events:

Cinco de Mayo celebrations highlight the Mexican army’s 1862 victory over French forces at the Battle of Puebla, distinct from Mexican Independence Day.

The upcoming Papal Conclave to elect a new pope begins May 7 in Rome, with global focus on the process.

These headlines reflect a mix of global, political, economic, and cultural developments. (Grok)

Media Man Int

News

Meme Man Brands Of The Day: Dogecoin, Xbox and The Perth Mint

Markets and Cryptos

May 2, 2025

Sydney, Australia

Markets:

ASX futures down 9 points/0.1% to 8153
AUD -0.3% at US63.86¢
Bitcoin +2.6% to $US96,560
Dow +0.7% S&P +1.2% Nasdaq +2.1%
Gold -1.9% to $US3227.23 an ounce
Oil +1.5% at $US61.95 a barrel
Iron ore -1.2% at $US95.20 a ton

Crypto Today:

Bitcoin. $96,857.23. 2.30%
Ethereum. $1,848.94. 2.43%
XRP. $2.2249. 0.71%
BNB. $599.84 USD +0.01%
Solana. $150.61 USD +2.64%
USD Coin. $1.00 USD -0.01%
Dogecoin. $0.1816 USD +4.87%

Crypto News

Ripple’s Regulatory Milestone: Ripple became the first blockchain-powered payments provider licensed by Dubai’s DFSA, enabling regulated cross-border crypto payments in the UAE, a key global trade hub.

XRP Market Dynamics: Despite a 30% price drop, XRP analysts highlight strong fundamentals and institutional integration, suggesting the dip may be a strategic shakeout before a potential rally to $3.

SoFi’s Crypto Push: Fintech SoFi plans to reintroduce crypto investing by year-end, leveraging new U.S. regulatory guidance. They aim to integrate blockchain across lending, savings, and payments within 24 months.

UK and US Regulatory Alignment: The UK announced draft rules to regulate crypto exchanges and dealers, aiming to align with the U.S. under Trump’s pro-crypto policies, despite EU concerns.

Stablecoin Developments: Visa and Bridge partnered to launch stablecoin-linked cards in Latin America, while Abu Dhabi’s ADQ, IHC, and First Abu Dhabi Bank plan a dirham-backed stablecoin.

Worldcoin’s U.S. Entry: Sam Altman’s Worldcoin (now World) will debut in U.S. cities like Atlanta and San Francisco, offering its WLD token for identity verification via Orb scans.

Security Concerns: North Korea’s Lazarus Group is targeting crypto developers with malware through fake U.S. companies, escalating cyber threats.

Markets and Cryptos

May 2, 2025

Sydney, Australia

Markets:

Crypto Today:

Bitcoin. $96,857.23. 2.30%
Ethereum. $1,848.94. 2.43%
XRP. $2.2249. 0.71%
BNB. $599.84 USD +0.01%
Solana. $150.61 USD +2.64%
USD Coin. $1.00 USD -0.01%
Dogecoin. $0.1816 USD +4.87%

Crypto News

XRP Market Dynamics: Despite a 30% price drop, XRP analysts highlight strong fundamentals and institutional integration, suggesting the dip may be a strategic shakeout before a potential rally to $3.

UK and US Regulatory Alignment: The UK announced draft rules to regulate crypto exchanges and dealers, aiming to align with the U.S. under Trump’s pro-crypto policies, despite EU concerns.

Stablecoin Developments: Visa and Bridge partnered to launch stablecoin-linked cards in Latin America, while Abu Dhabi’s ADQ, IHC, and First Abu Dhabi Bank plan a dirham-backed stablecoin.

Worldcoin’s U.S. Entry: Sam Altman’s Worldcoin (now World) will debut in U.S. cities like Atlanta and San Francisco, offering its WLD token for identity verification via Orb scans.

Security Concerns: North Korea’s Lazarus Group is targeting crypto developers with malware through fake U.S. companies, escalating cyber threats.

Markets and Cryptos

Markets:

April 23, 2025

ASX futures up 103 points/1.3% to 7939
AUD -0.7% at US63.68¢
BTC +4.5% to $US91,358
Dow +2.7%
S&P +2.1%
NAS +2.5%
Gold -1.5% to $US3371.27 an ounce
Oil +1.5% at $US67.22 a barrel
Iron ore -0.7% at $US98.65 a ton

Cryptos Today:

Bitcoin $91,075.31 USD +4.29%
ETH $1,695.23 USD +7.53%
Tether $1.00 USD -0.02%
XRP $2.16 USD +3.57%
BNB $607.70 USD +1.95%
Solana $144.34 USD +5.47%
USD Coin $0.9994 USD -0.08%
Dogecoin $0.1728 USD +9.13%

Crypto, FinTech, Comms, Mining, Politics and News Media

Under The Media Man Watercooler

April 16, 2025

News

Crypto Today:

Bitcoin -0.78% to $US84,112 on Bitstamp at 6.23am AEDT

The S&P 500 fell 0.17 per cent, the Nasdaq 100 was down 0.05 per cent and the Dow Jones Industrial Average fell 0.38 per cent. Bitcoin fell 1 per cent to $US83,970.85 and Ether was down 1.6 per cent to $US1608.22.

News

U.S. Bans Nvidia H20 Chip Exports to China

The U.S. government has issued a ban on Nvidia's export of H20 chips to China, citing national security concerns. Nvidia has announced an anticipated $5.5 billion charge to its Q1 earnings due to this ban, leading to a significant drop in its stock price. This decision reflects ongoing U.S.-China tech tensions, influencing both tech supply chains and market dynamics. (Grok)

News

Movement Labs Under Internal Review; Co-Founder Takes Leave

Movement Labs has launched an internal investigation following issues with a market maker linked to their MOVE token. Concurrently, co-founder Rushi Manche has taken an indefinite leave from the company. There are conflicting reports on whether this leave is temporary or permanent, with Manche himself stating he is 'still' at Movement Labs. (Grok)

News

The crypto market gathers strength after the rebound

Market Picture

The cryptocurrency market added 8% over 7 days, stabilising at the $2.7 trillion level since Saturday. This is where the market tried to find support in the last days of March before collapsing at the start of April. A move higher could bolster hopes for further gains, but these expectations will only be confirmed after a solid consolidation above the 200-day moving average, which is now near $2.97 trillion.

Bitcoin continues its cautious rise, trading above its 50-day moving average and reaching $85.7K. This is an important technical attempt to reverse the downtrend. Interestingly, the 200-day average is quite close, so a second confirmation of a trend change could come quite quickly. However, from a pessimistic point of view, it is worth noting that bitcoin has entered a resistance accumulation zone where the strength of the initial rebound may fade.

Solana has added 20% over the past seven days. From a technical perspective, this is an attempt to get back into the bull market zone. Solana is recovering faster than many of the major altcoins, trading at its 50-day moving average near $130. A consolidation above this level will open the way to $145, the area of previous peaks. A sustained move above them will signal a break of the downtrend and could lead to a move towards $180.

News Background

According to CoinShares, global investments in crypto funds fell by $795 million last week after outflows of $240 million a week earlier. Bitcoin investments were down $751 million, Ethereum was down $38 million, and Solana was down $5 million, but investments in XRP were up $3.4 million, and Algorand and Avalanche were up $0.25 million.

Coinshares noted that recent tariff changes have led to record outflows of $7.2bn, effectively levelling out almost all of the inflows since the start of the year.

Call options on Bitcoin at $100K were the most popular on the Deribit platform, with a total open interest of nearly $1.2bn, according to CoinDesk analyst Omkar Godbole. The $70K put options were the second most popular, with $982 million in open interest.

Project Mantra's MANTRA token (OM) collapsed by 90%, and its market capitalisation dropped from $5.5 billion to $765 million. The crypto community suspects fraud, calling it the biggest rug pull since the collapse of LUNA and FTX. (FxPro)

News

Gold Reaches New Peak at $3,267, Predicted to Rise Further

Gold prices have surged to a new all-time high, reaching approximately $3,267 per ounce, influenced significantly by trading activities in Asia, particularly China. Financial analysts from Goldman Sachs have predicted that gold could potentially increase by an additional 38% by the end of 2025, projecting a price around $4,500 per ounce. This spike is seen in the context of increased global liquidity and a shift towards safe-haven investments amid market volatility. (Grok)

News

Markets

Australian Dollar: $0.6350 USD (up $0.0025 USD)
Iron Ore May Spot Price (SGX): $98.75 USD (up $0.85 USD)
Oil (WTI): $61.53 USD (down $0.07 USD)
Gold: $3,229.93 USD (up $19.36 USD)
Copper (CME): $4.6155 USD (down $0.0430 USD)
Bitcoin: $84,152.84 USD (down 0.50%)
Dow Jones: 40,368.96 (down 155.83 points)

News Update

ALL ORDS 7,987.30 +0.22%
ASX 200 7,783.90 +0.29%
AUD/USD 0.6350 +0.13%
OIL 61.14 -0.31%
GOLD 3,294.30 +1.66%
Bitcoin AUD 131,734.02 -1.91%
XRP AUD 3.28 -3.06%
AUD/EUR 0.5598 -0.24%

News

Crypto Today: Update

Pi Network. $0.6621. -10.94%
XRP. $2.13. -1.40%
Bitcoin. $84,961.00. -0.96%
Dogecoin. $0.1561. -2.73%
Shiba. $0.000012. -2.16%
Pi Network [IOU... pi. $0.6600. -10.62%
MEME. $0.000110. +12.36%
Solana. $129.75. -1.81%

News

Bitcoin Movie News

Satoshi Nakamoto Film: A feature-length movie about Bitcoin’s enigmatic founder, Satoshi Nakamoto, is in development, directed by Sophia Banks. Based on Andrew O’Hagan’s article “The Satoshi Affair,” it explores the mystery behind Bitcoin’s creator through investigative storytelling.

Biggest Heist Ever (Netflix Documentary): Released in December 2024, this documentary covers the 2016 Bitfinex heist by Ilya Lichtenstein and Heather Morgan, dubbed “Bitcoin’s Bonnie and Clyde.” They stole nearly 120,000 Bitcoin (worth $4.5 billion today), causing a 20% drop in Bitcoin’s value at the time. The documentary faced cease-and-desist demands from Morgan’s lawyers for alleged privacy violations and false claims.

Crypto Man (South Korean Film): A major crypto-themed movie based on true events, “Crypto Man,” was released in South Korean theaters in January 2025. It’s generating buzz for its realistic portrayal of the crypto world.

G20 (Amazon Prime Movie): Released in April 2025, this action film starring Viola Davis features Bitcoin and digital currencies as a central plot element, reflecting crypto’s growing cultural presence. Posts on X highlight its pro-Bitcoin stance, with the plot involving governments attempting to control digital currencies, countered by Bitcoin’s decentralized nature.

Aimy in a Cage: This 2015 dystopian horror film, directed by Hooroo Jackson, was the first movie fully funded by Bitcoin investments, notable for its independence from studio interference.

Cold Wallet: A 2025 thriller about cryptocurrency fraud, presented by Steven Soderbergh, has been praised for its suspenseful take on the crypto world.

These projects reflect Hollywood’s increasing fascination with Bitcoin and cryptocurrency, blending real-world events with dramatic storytelling. For more details on specific films, I can dive deeper into any of these! (Grok)

News

Australia

ASX edges up as CSL climbs; Belleveue sinks

The Australian sharemarket posted a small gain on Tuesday, with the S&P/ASX 200 adding 0.2 per cent to close at 7,761.7 points. Iluka Resources was up 5.2 per cent at $3.62, CSL advanced 2.6 per cent to end the session at $244.10 and Westpac rose 0.8 per cent to $30.76. However, Bellevue Gold shed 21.8 per cent to finish at $0.895 and Collins Foods was down 7.7 per cent at $8. (Roy Morgan Summary)

News

Stock market: Famous Quotes:

"An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

"Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Cryptocurrency, Fintech, Markets, Comms, Biz, Politics

April 7, 2025

Markets

ASX futures down 331 points/4.3% to 7388
AUD -0.3% at US60.21¢
Bitcoin -4.3% to $US79,283
Dow -5.5%
S&P -6.0%
Nasdaq -5.8%
Gold -2.5% to $US3038.24 an ounce
Brent oil -6.5% at $US65.58 a barrel
Iron ore flat at $US98.00 a tonne

News

April 7, 2025

Crypto Today:

BTC. $78,820.93. 4.67%
ETH. $1,577.20. 10.02.
USDT. $0.9998. 0.03%
XRP. $1.9566. 7.10%
BNB. $552.66. 6.00%
USDC. $1.0002. 0.03%
SOL. $106.55. 9.74%
DOGE. $0.1499. 9.96%

News

Countries Respond to U.S. Tariffs with Negotiation Offers

Following President Trump's announcement of new tariff policies, Vietnam and Taiwan have both offered to eliminate all tariffs on U.S. goods. Additionally, over 50 countries have reached out to the U.S. to begin trade negotiations, as stated by U.S. National Economic Council Director Kevin Hassett. These actions are in response to the U.S. imposing tariffs, with countries seeking to negotiate new trade deals to mitigate the impact of these tariffs. (Grok)

News

Bitcoin Dips Below $80,000, Hits $78,000 Amid Market Liquidation

On April 6, 2025, Bitcoin experienced a significant price drop, falling below $80,000 and reaching as low as approximately $78,000. This decline was accompanied by a $200 million liquidation from the cryptocurrency market within the past hour. Ethereum also saw a decrease, falling below $1,700, marking a notable downturn in the broader crypto market. (Grok)

News

Trump's Tariffs Prompt Global Trade Shifts

President Trump has recently imposed tariffs on several countries, prompting a variety of responses globally. Vietnam has proposed eliminating tariffs on U.S. goods following discussions with Trump, with plans to send diplomats to Mar-a-Lago to finalize the agreement. In the UK, Prime Minister Keir Starmer has acknowledged the failure of globalization and expressed understanding of Trump's tariff strategy. Meanwhile, business leaders like Elon Musk have advocated for a zero-tariff system between the U.S. and Europe to establish a free trade zone. Public opinion on these tariffs is divided, with some seeing an increase in Trump's approval ratings, while others, including investors, express concerns over economic impacts. (Grok)

World News, Biz, Markets, Resources, Politics, Media

April 4, 2025

Tariff wars made the dollar a risky asset

Gold

Movements in metals have been monumental. A 3% rise deep into the region of all-time highs for Gold was followed by a collapse of more than $100 from $3,170 to $3,050 an ounce. On Friday, trading stabilised near $3100, minimally adding to levels at the opening of the week.

Tactically, this is a good time for the bulls to exhale and lock in profits. This is confirmed by the fulfilment of an important growth target and the entry into extreme overbought on weekly timeframes on RSI. Multi-week corrections started in similar conditions in 2024.

Oil

Oil took a double hit in the week in less than 24 hours when it came under pressure from the macroeconomy due to tariffs and OPEC+ actions. Tired of waiting for the global economy to accelerate, the Cartel switched gears in the battle for market share, pledging to ramp up production faster than the previously announced plan.

Similar moments occurred in March 2020 and December 2014. On both occasions, oil dipped below $30 a barrel before finding support in the form of coordinated action by global producers. In theory, coordination is now at a higher level, but that doesn't negate the powerful pressures expected due to the trade shock and supply expansion.

Technically, oil is breaking through the bottom of the three-year range, and the 50-week moving average worked as resistance for the third time since September. (FxPro)

News

Cryptos Today

BTC. $83,789.09. 0.70%
ETH. $1,812.44. 0.36.
USDT. $0.9997. 0.00%
XRP. $2.1330. 2.61%
BNB. $596.22. 0.09%
SOL. $120.95. 3.74%
USDC. $1.0000. 0.01%
DOGE. $0.1696. 3.20%

News

Markets

ASX 200 futures are pointing down 93 points/1.2 per cent to 7786

AUD +0.4% to US63.22¢

Bitcoin -4.7% to $US82,018

Wall St:
Dow -4%
S&P -4.8%
Nasdaq -6%
VIX +8.26 to 29.77
Gold -0.9% to $US3108.38 an ounce
Brent oil -6.7% to $US69.91 a barrel
Iron ore -1.5% to $US101.25 a tonne
10-year yield: US 4.04% Australia 4.26%

News

Germany Considers Gold Withdrawal from U.S. Vault

Germany is contemplating the withdrawal of approximately 1,200 tons of gold, valued at around $124 billion, from a U.S. Federal Reserve vault in New York. This consideration comes in the context of recent U.S. tariffs imposed by President Trump. The decision-making process involves senior officials from the Christian Democratic Union (CDU) Party, who are set to lead the next German government in the Bundestag. The potential repatriation of gold has not occurred since World War II, highlighting the significance of the current deliberations. (Grok)

News

Bitcoin Holds Steady Amid Stock Market Turmoil

On April 4, 2025, the US stock market experienced a significant drop, with over $1.5 trillion in value being erased. Amidst this turmoil, Bitcoin has shown resilience, maintaining its value around $80,000. Some observers and investors view this as a sign of Bitcoin decoupling from traditional financial markets and emerging as a potential safe haven asset, similar to gold. US Treasury Secretary Scott Bessent has publicly stated that 'Bitcoin is becoming a store of value,' reflecting a viewpoint that is gaining traction among some in the financial community. (Grok)

News

Coffee Tariffs Prompt Debate on U.S. Production

The United States is currently facing a discussion around proposed tariffs on imported coffee, which could impact consumer prices. While coffee is grown in the U.S., primarily in Hawaii, the production volume is significantly less than the national demand. Increasing domestic production to meet this demand presents logistical and time-related challenges, as coffee plants require several years to mature and produce a full crop. Opinions vary on the feasibility and desirability of relying more heavily on American-grown coffee to circumvent the potential tariff-induced price increases.

Markets

April 4, 2025

ASX futures down 74 points or 0.9% to 7805

AUD +0.6% to US63.35¢

Bitcoin -4.6% to $US82,296

Wall St:

Dow -3.3%
S&P -4.1%
Nasdaq -5.2%
VIX +6.02 to 27.53
Gold -0.7% to $US3112.12 an ounce
Brent oil -6.5% to $US70.09 a barrel
Iron ore -1.5% to $US101.25 a tonne
10-year yield: US 4.05% Australia 4.26%

Cryptos Today:

BTC. $81,846.87. 5.49%
ETH. $1,774.30. 6.24.
USDT. $0.9997. 0.02%
XRP. $2.0101. 6.23%
BNB. $587.77. 2.64%
USDC. $1.0000. 0.01%
SOL. $113.95. 12.19%
DOGE. $0.1581. 8.06%

The Australian Financial Review. Subscribe for full articles

Sky News Australia

Markets

March 29, 2025

ASX futures down 91 points/1.1% to 7929
AUD -0.3% at US62.87¢
Bitcoin -3.9% to $US83,810
Dow -1.7%
S&P -2%
Nasdaq -2.7%
Gold +0.7% to $US3077.49 an ounce
Brent oil -0.6% at $US73.61 a barrel
Iron ore -0.2% at $US103.25 a tonne

Markets

March 24, 2025

ASX futuresdown 0.5 per cent or 41 points to 7945

AUD flat at US62.73¢

Bitcoin +1.2% to $US85,147

Wall St:
Dow +0.1%

S&P +0.1%

Nasdaq +0.5%

VIX -0.52 points to 19.28

Gold -0.8% to $US3022.15 an ounce

Brent oil +0.2% to $US72.16 a barrel

Iron ore -0.5% to $US100 a tonne

10-year yield: US 4.25% Australia 4.39%

Crypto Today

BTC. $85,293.57. 1.15%
ETH. $2,001.72. 0.75.
USDT. $1.0001. 0.03%
XRP. $2.4026. 0.56%
BNB. $622.52. 0.78%
SOL. $132.21. 2.11%
USDC. $1.0003. 0.02%
ADA. $0.7082. 0.59%

Media Man Group Market Feed

News, Crypto, Markets, Biz, Politics, Media

March 13/14, 2025

Crypto: just a bumpy downtrend

Market picture

The crypto market declined during the week to a total capitalisation of $2.5 trillion, a third lower than the peaks in December last year. However, towards the end of the week, we could see attempts to stabilise the market, with a rebound of $2.67 trillion.

Despite the growth attempts, only if the market breaks above its 200-day moving average will we be able to take it as a signal of a return to growth. For now, the market dynamics resemble no more than just a bumpy downtrend.

The story is similar in Bitcoin, where the bears are regaining control of the market on bounces to the $83,500 area. A 200-day moving average is near this level.

Ethereum is in a steep decline, having pulled back below $1900. At its low point, it was below $1750. It hasn't been this cheap since October 2023, losing over half of its price since its peak in mid-December.

News Background

Outflows from spot bitcoin-ETFs in the US continue for the seventh day in a row, with 19 trading sessions out of 21 already.

CryptoQuant calls the range of $75,000 - 78,000 as support, which coincides with the lower boundary of the realised price. If the quotes are fixed below this zone, the $63,000 mark may become a benchmark.

Senator Cynthia Lummis introduced an updated Bitcoin Act bill in the US Senate that would allow the government to store more than 1 million bitcoins as part of a newly created crypto reserve. The US can buy 200,000 BTC each year for five years, reallocating funds from the Fed and Treasury Department.

The US SEC has extended the deadlines for several applications to launch spot ETFs based on XRP, Solana, Litecoin and Dogecoin. Bloomberg called the regulator's move ‘expected’ and in line with standard procedures. (FxPro)

News

The crypto bounces back from extreme fear

Market picture

The cryptocurrency market bounced 2% in the last 24 hours to $2.67 trillion. So far, the situation looks like a small rebound after the collapse. We should not talk about the beginning of recovery as long as the market is below its 200-day moving average of $2.83 trillion.

Sentiment in the crypto market has shifted from dread to fear at 34. The indicator was last higher more than three weeks ago, indicating that now is a good time to buy. However, it's worth paying attention to the nervous stock market before considering investments in more volatile cryptocurrencies.

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

Ethereum ended Tuesday with growth and was trading near $1900 at the start of Wednesday, but this is a timid rebound within the steep peak the coin has been in since February 24th and the broader downtrend of the past three months.

News Background

CryptoQuant states a sharp drop in open interest in Bitcoin and Ethereum futures, suggesting a ‘leverage washout’ and a chance of market stabilisation. The Kobeissi Letter admits a wave of short position unwinding in risk assets after extreme fear levels are reached.

Clearstream, the post-trading arm of Deutsche Börse, will offer cryptocurrency settlement and custody services to institutional clients as early as next month, starting with Bitcoin and Ethereum. It then plans to add support for other cryptocurrencies and services for staking, lending and brokerage.
Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

According to Arkham Intelligence, on 11 March, bankrupt exchange Mt. Gox transferred 11,501 BTC (~$905 million) to an unknown address. Mt. Gox-related addresses hold a total of 35,915 BTC worth $2.89bn. (FxPro)

News

Gold hits fresh record

March 14, 2025

Spot gold hit a fresh record high on Friday after the US threatened higher tariffs on the EU, adding to growing concerns that levies could hamper economic growth.Prices rose as high as $US2990.02. It came after spot gold notched its biggest intraday gain this year on Thursday, rising 1.9 per cent. US President Donald Trump overnight threatened to impose 200 per cent tariffs on alcohol from the European Union, after the block set a 50 per cent tariff on American whisky.

News

Trump crypto venture has talked to Binance about doing business

March 14, 2025

World Liberty Financial, one of the Trump family’s crypto ventures, has discussed doing business with the world’s largest digital-asset exchange, Binance Holdings, according to four people with knowledge of the talks.

The exchange’s founder pleaded guilty to failing to take required measures to prevent terrorists, child abusers and entities in sanctioned nations from using its services.

It’s not clear what stage the discussions have reached or whether they’ll result in any transactions or ventures, said the people, who asked not to be named because the talks are private.

Two of the people who spoke said conversations have included the possibility of Binance developing a stablecoin – a dollar-backed cryptocurrency – with World Liberty, which President Donald Trump and his sons began promoting in September. The Trumps receive three-quarters of World Liberty’s net revenue, according to its founding documents.

In addition, representatives of the Trump family have held talks with Binance about taking a stake in its US arm, Binance US, The Wall Street Journal reported on Thursday (Friday AEDT), citing people familiar with the matter. In a post on X, Binance founder Changpeng Zhao said he has not held discussions about a Binance US deal with anyone.

Zhao pleaded guilty in 2023 to anti-money laundering failures that allowed Binance to be used by criminal groups and terrorist organisations, including Hamas.

Zhao, known as “CZ”, was released from a halfway house in Long Beach, California, in September after serving a four-month sentence. Binance paid a $US4.3 billion fine. Zhao has been pushing for the Trump administration to grant him a pardon, according to the Wall Street Journal’s report.

Three months after leaving the halfway house, Zhao met with Steve Witkoff, a co-founder of World Liberty, in Abu Dhabi at the Bitcoin MENA 2024 conference, two of the people said. Witkoff is the president’s Middle East envoy. He is slated to meet with Russian President Vladimir Putin this week as part of the Trump administration’s efforts to halt the fighting that began when Russia invaded Ukraine three years ago.

The substance of Witkoff’s meeting with Zhao in December is not clear. Talks between the crypto companies they founded have taken place since then, according to the four people with knowledge of the matter.

Witkoff did not immediately respond to a request for comment, nor did a White House spokesperson. Witkoff has said he’s in the process of divesting from his crypto assets as well as his holdings in real estate, transferring holdings to his sons to manage potential conflicts of interest.

A representative for Binance US declined to comment on Thursday, and representatives for World Liberty did not respond to requests for comment.

Zhao is still Binance’s controlling shareholder, with a net worth of $US36.9 billion ($58.7 billion), according to the Bloomberg Billionaires Index. He stepped down as its chief executive officer in November 2023, when he pleaded guilty to failing to maintain an anti-money laundering program.

Richard Teng, who replaced Zhao, said in February that he sees an opportunity for a “fresh reset and a restart” under Trump, though he did not specify any plans. (Full article and coverage via subscription to The Australian Financial Review)

News

SEC Proposes XRP as Key U.S. Financial Asset

The U.S. Securities and Exchange Commission (SEC) has released a document titled 'Comprehensive Proposal: XRP as a Strategic Financial Asset for the U.S.' This proposal explores the potential for XRP to become a key financial asset, discussing the replacement of the SWIFT system, legal clarity for XRP, and economic benefits like unlocking $1.5 trillion in banking liquidity. Discussions are also underway regarding whether XRP should be classified as a commodity, similar to Ethereum, which could influence its regulatory and market future.

News

Rumble's Strategic Bitcoin Acquisition

March 13, 2025

Rumble, a video platform and competitor to YouTube, has announced the purchase of 188 Bitcoins for approximately $17.1 million. This acquisition is part of Rumble's strategy to integrate Bitcoin into its treasury management, aiming to hedge against inflation and participate in the growing trend of corporate cryptocurrency adoption. The move reflects a broader acceptance of Bitcoin as a legitimate financial asset among companies.

March 11, 2025

Bitcoin Plunge and U.S. Crypto Reserve Plan

Bitcoin experienced a significant price drop, falling below $80,000 after reaching a high of over $84,000. This decline contributed to a market cap loss of $100 billion in the cryptocurrency sector. Concurrently, the U.S. government has announced plans for a Strategic Bitcoin Reserve, intended to hold cryptocurrency forfeited through legal actions, sparking discussions on market stability and government involvement in crypto. (Grok)

News

US confirms its critical minerals agenda as fallen miner AVZ chases an improbable African prize

A spokesman for the US State Department has confirmed that the Trump administration is interested in entering into a critical minerals partnership with the Democratic Republic of the Congo (DRC). DRC President Felix Tshisekedi is said to want to strike a deal with the US to help resolve a conflict with Rwanda-backed M23 rebels, while any deal between the DRC and the US could help Australian company AVZ Minerals. AVZ is seeking to regain control of the Manono lithium deposit, which it contends was illegally seized from it by Chinese company Zijin, and it is understood that the Trump administration would want to see AVZ regain control of at least some part of Manono as part of any deal with the DRC. (Roy Morgan Summary)

News

Markets

Australian Dollar: $0.6282 USD (down $0.0035 USD)
Iron Ore Apr Spot Price (SGX): $102.20 USD (up $1.60 USD)
Oil: (WTI): $66.61 USD (down $1.09 USD)
Gold: $2,983.88 USD (up $52.14 USD)
Copper (CME): $4.9240 USD (up $0.0815 USD)
Bitcoin: $80,472.06 USD (down 2.82% in last 24 hours)
Dow Jones: 40,813.57 (down 537.35 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

Crypto, Fintech, Markets, News and Politics via Media Man

March 12/13, 2025

The crypto bounces back from extreme fear

Market picture

Bitcoin was climbing above $83,000 on Tuesday, hitting resistance in the form of the 200-day moving average. If a long-term trend line is repurposed as resistance, that's a worrisome bearish fact.

News Background

Glassnode notes that Solana fell below its realised price of $134 for the first time in three years. The metrics show the average cost for investors to purchase the coin.

News

SEC vs Ripple Case: Negotiations Underway for Settlement

Recent developments indicate that the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could be nearing a conclusion. Reports suggest that Ripple's legal team is currently negotiating more favorable terms related to a $125 million fine and an injunction on XRP sales to institutional investors. The anticipation of a settlement has led to increased interest and speculation within the cryptocurrency community regarding the outcome and its potential impact on XRP. (Grok)

News

U.S. Plans Strategic Bitcoin Reserve Acquisition

Senator Cynthia Lummis has reintroduced the BITCOIN Act, which proposes that the United States government purchase one million Bitcoins over five years to create a strategic reserve. This legislative move reflects a growing acknowledgment of Bitcoin as a digital asset for national economic strategy, garnering support from both traditional financial sectors and cryptocurrency advocates. Alongside this, there is an ongoing debate about the implications, risks, and potential benefits of such a reserve. (Grok)

News

Trump's Crypto Banking Deregulation

President Donald Trump is reportedly planning to sign an executive order that would reverse regulations set by the Biden administration aimed at restricting banking activities for cryptocurrency firms. This move could impact how crypto companies interact with the Federal Reserve, potentially leading to greater integration of cryptocurrencies within the traditional financial system. (Grok)

News

Rumble's Strategic Bitcoin Acquisition

News

Trump Predicts Market Surge Amid Economic Indicators

President Trump has publicly stated his belief that the U.S. financial markets are poised for significant growth, making his comments at an event with business leaders. This optimistic forecast follows recent economic indicators showing inflation cooling to levels not seen in years, despite mixed responses from markets regarding Trump's economic policies including tariffs. (Grok)

News

Ethereum's Lowest BTC Ratio Since 2020 Triggers Liquidation Risk

The Ethereum Foundation faces potential liquidation of over $100 million in assets if Ethereum's price drops to $1,100, amidst a historic low in the ETH/BTC trading ratio not seen since May 2020. This financial maneuver is part of Ethereum's strategy to manage its treasury through decentralized finance (DeFi), highlighting both the risks and innovative approaches to crypto-asset management in a volatile market. (Grok)

News

Gold funds burst out of the blocks in 2025 as returns rocket

Australian gold funds are shaping up for a bumper year as mining companies start to capitalise on record prices, helping the stocks to finally catch up to the performance of the precious metal.

Portfolio managers were left frustrated last year after a jump in production costs held back ASX-listed gold producers from riding the rally in the spot prices to record levels. The VanEck Gold Miners exchange-traded fund climbed nearly 20 per cent in 2024 versus a 38 per cent rally for the gold price in Australian dollars.

But easing cost inflation that has plagued the mining sector for the last three years and an ongoing surge in prices has seen the trend reverse course. VanEck’s Gold Miners ETF is up 17 per cent already this year while the Aussie dollar spot price has climbed 6.3 per cent.

Local fund managers are bullish that gold has much further to run after the US dollar price climbed above $US2942 an ounce for the first time and the Australian dollar gold price breached $4500 an ounce.

Victor Smorgon Partners’ Resource Gold Fund returned a chunky 13.3 per cent in January and portfolio manager Cameron Judd believes the valuations of ASX gold stocks still don’t reflect the outlook for the yellow metal.

“Gold’s performance in times of uncertainty or crisis could see it push towards $US3600,” Mr Judd said. “Despite the strong gold price performance and fundamentals supporting further appreciation, gold miners are trading at discounted valuations on the ASX.”

Wall Street’s biggest banks believe a $US3000 price tag is imminent. Citi said it was possible within the next three months, while JPMorgan has a year-end target of $US3150. Bank of America said on Thursday that gold could reach $US3500 an ounce if investment demand rises 10 per cent this year.

The unprecedented surge in the gold price has been fuelled by investors seeking safe haven assets as US President Donald Trump unleashes aggressive trade and geopolitical policies. There are fears the president will accelerate inflation, forcing central banks to raise rates in a way that damages global growth.

Victor Smorgon’s top holdings include ASX-listed Vault Minerals and the world’s largest gold miner, US-based Newmont, which recently acquired Newcrest. The fund also owns Australia’s biggest gold miner Northern Star, which agreed to buy rival De Grey in a $5 billion deal. (AFR) *Full article and coverag via subscription to The Australian Financial Review.

News

Australia

Northern Star paying top dollar for gold rival

Northern Star has offered $5 billion to buy De Grey Mining, with De Grey shareholders to vote on the offer on 16 April. De Grey is the company behind the Hemi gold prospect in Western Australia, which is thought to hold at least 11 million ounces of gold and which is slated to produce 530,000 ounces annually in its first decade of operation. KPMG, which was engaged to provide an independent assessment of Northern Star's offer, has valued DeGrey at between $4 billion and $4.79 billion, inclusive of a premium for control. It concludes that the offer is "fair and reasonable and therefore is in the best interests of De Grey shareholders, in the absence of a superior proposal". (Roy Morgan Summary)

News

March 12, 2025

Crypto market tumbles after stocks

Market picture

Crypto market capitalisation has been falling to $2.5 trillion following the rumbling fall of the US stock market. It is dipping below the peaks of early 2024 and late 2021. Previously, a similar decline would complete a corrective pullback, attracting buyers. However, the chances of such an outcome are now lower than in previous years due to the powerful influence of traditional financial companies, which has strengthened the link between the crypto market and stock dynamics.

For now, though, we can argue that there is less terror in crypto. The Fear and Greed Index is at 24 (+4 points for the day), while the low point was a week earlier at 10.

Bitcoin slipped towards $76.5K in the early hours of Tuesday but has popped above $80K at the time of writing, approaching Monday’s consolidation levels. A bearish pattern persists on the daily timeframes, which suggests a strengthening sell-off after a failure under the 200-day moving average. The scenario of a pullback to the $70-74K area still looks the most probable for us. This is all the truer as the consolidation and rebound in early March has taken the short-term oversold stance out of the market.

Ethereum is trying to find a pivot point after falling towards $1750 at the start of Tuesday. These were the lowest values in the last 17 months. On weekly timeframes, the RSI oscillator hit its lowest point since mid-2022 - near the bottom of the bear market. Does this signify an opportunity for the recklessly bold or a breakdown in the leading altcoin? We will find out in the coming days.

News Background

According to CoinShares, global crypto fund investments fell by $876 million last week after record outflows of $2.911 billion a week earlier. Investments in Bitcoin fell by $756 million; in Ethereum, by $89 million. Investments in Solana rose by $16 million, in XRP by $6 million, and in Sui by $3 million.

As a result of another recalculation, Bitcoin mining difficulty increased by 1.43% to 112.15T. The growth did not compensate for a 3.15% drop two weeks ago. However, the figure came close to the all-time high of 114.17T reached in January.

Strategy (former MicroStrategy) intends to raise $21bn through the sale of preferred shares as part of its At-The-Market program. The proceeds will be used to buy Bitcoin and other corporate purposes. (FxPro)

News

March 11, 2025

US Senator And Congressman Introduce Strategic Bitcoin Reserve Bills To Buy One Million BTC

Speaking at the “Bitcoin for America” summit, lawmakers announced their plans to create a federal bitcoin reserve that would see the U.S. buy one million BTC.

Today at the Bitcoin Policy Institute’s “Bitcoin for America” summit in Washington DC, U.S. Senator from Wyoming Cynthia Lummis announced that she is going to reintroduce her strategic Bitcoin reserve legislation in the Senate today.

“I am so pleased to announce that today I will be reintroducing The Bitcoin Act,” Senator Lummis stated. “And I’ll be joined here shortly by Senator Justice of West Virginia, who is one of the cosponsors. And we have several other additional cosponsors. And a lot of it is a result of the excitement that’s been building.” (Bitcoin Magazine). *Full article via Bitcoin Magazine

News

XRP wins Media Man 'Crypto Of The Month' award

News

Markets

Australian Dollar: $0.6317 USD (up $0.0020 USD)
Iron Ore Apr Spot Price (SGX): $100.60 USD (up $0.15 USD)
Oil (WTI): $67.70 USD (up $1.14 USD)
Gold: $2,931.74 USD (up $13.03 USD)
Copper (CME): $4.8425 USD (up $0.0500 USD)
Bitcoin: $82,880.91USD (up 0.32% in last 24 hours)
Dow Jones: 41,350.93 (down 82.55 points)

News

Roy Morgan wins Media Man 'News Services Company Of The Month' award

News Media

Australia

Peter Dutton More Crypto Friendly And Switched On Than Albanese (Media Man Group)

News

"Dutton A Genuine Contender" (Sky News Australia)

March 10, 2025

ASX futures are pointing up 69 points, or by 0.9 per cent, to 8011.

All US prices are as of 4.15pm Sunday in New York:

Bitcoin -3.7% to $US83,138
On Wall St: Dow +0.5% S&P +0.6% Nasdaq +0.7%
VIX -1.5 to 23.37
Gold -0.1% to $US2909.10 an ounce
Brent oil +1.3% to $US70.36 a barrel
Iron ore +0.3% to $US100.70 a tonne
10-year yield: US 4.3% Australia 4.4%

January 10, 2025

ASX futures up 33 points or 0.4%

AUD -0.3% to 61.98 US cents
UK pound -0.4% to $US1.2309
Bitcoin -2.9% to $US91,275 at 7.23am AEDT
US markets closed for Jimmy Carter’s funeral
Stoxx 50 +0.4% FTSE +0.8% DAX -0.1% CAC +0.5%
Spot gold +0.3% to $US2671.00/oz at 1.55pm in New York
Brent crude +1.2% to $US77.08 a barrel
Iron ore +1% to $US97.40 a tonne
10-year yield: US 4.69% Australia 4.48% Germany 2.56%
US prices as of 1.59pm in New York

Markets

January 4, 2025

ASX futures up 23 points or 0.3% near 8am AEDT

AUD +0.2% to 62.16 US cents

Bitcoin +1.2% to $US98,195 at 8.27am AEDT

On Wall St at 4pm: Dow +0.8% S&P +1.3% Nasdaq +1.8%

In New York: BHP -0.8% Rio -0.3% Atlassian +3.3%

Tesla +8.2% Apple -0.2% Nvidia +4.7% Microsoft +1.1%

Alphabet +1.3% Amazon +1.8% Meta +0.9%

Mara +14.1% MicroStrategy +13.2% Iren +8.4%

VIX -1.8 to 16.13 QQQ +1.6% TLT -0.3%

Stoxx 50 -0.9% FTSE -0.4% DAX -0.6% CAC -1.5%

Spot gold -0.7% to $US2639.37oz at 4.51pm in New York

Brent crude +0.9% to $US76.58 a barrel

Iron ore -2.6% to $US98.30 a tonne

10-year yield: US 4.60% Australia 4.38% Germany 2.42%

US prices as of 4.54pm in New York

Movie Box Office (North America)

January 5, 2025

1. Mufasa: The Lion King - $23.8m

2. Sonic The Hedgehog 3 - $21.2m

3. Nosferatu - $13.2m

4. Moana 2 - $12.4m

5. Wicked - $10.2m

6. A Complete Unknown - $8.6m

7. Babygirl - $4.5m

8. Gladiator II - $2.7m

9. Homestead - $2.1m

10. The Fire Inside $1.2m

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Mining News

Mining industry ‘critical’ to future energy transition

Breton Technology Middle East and Australia Chairman Lance Kawaguchi says the mining industry is “critical” to the future energy transition.

A prominent tech and manufacturing company is pushing the boundaries of sustainable mining globally through the deployment of battery-electric machinery and advanced autonomous technology.

“Our mission is to try to do our part to be sustainable,” Mr Kawaguchi told Sky News Australia.

“What we are trying to do is to find solutions ... to still be able to mine but reduce the carbon footprint and energy consumption.”

Media Man: Sky's the limited with the right resources, media and business associates, vision and hard and smart work!

News

Mining via Grok

Mining is an essential industry that involves the extraction of valuable minerals or other geological materials from the Earth. Here's an overview based on general knowledge and contemporary information:

Methods of Mining:

Underground Mining: Used for deep mineral deposits. This method involves creating shafts or tunnels to reach the ore. It's more expensive and can be hazardous but is necessary for high-value minerals located deep underground.

Open Surface (Pit) Mining: Best for minerals located near the surface. This method creates an open pit to extract the ore. It's generally safer and less expensive than underground mining when the ore body is near the surface.

Placer Mining: Utilizes water to extract minerals, typically gold, from sediments in river channels or other alluvial deposits.

In-Situ Mining: Involves dissolving the mineral resource in place using chemicals and then processing it at the surface without moving the rock. This method is often used for uranium.

Environmental Impact:

Mining has significant environmental impacts:

Land Disturbance: Open pits, spoil heaps, and tailings change landscapes dramatically, often leading to deforestation and habitat destruction.

Water Pollution: Mining can lead to acid mine drainage, where acids and heavy metals leach into water sources, which is harmful to aquatic life and human health.

Air Pollution: Dust from mining operations can affect air quality, and processing some ores releases harmful gases.

Rehabilitation: Modern mining practices often include plans for land rehabilitation post-mining, though the success of these efforts can vary widely.

Technological and Economic Aspects:

Technology: Modern mining uses advanced technology for exploration (like satellite imagery, geophysical methods), extraction (automated machinery), and processing (bioleaching, for instance).

Economics: Mining can be extremely lucrative, driving economic growth in many regions. However, the volatility in mineral prices can lead to boom-and-bust cycles in mining-dependent communities.

Energy Transition: There's an increasing focus on mining due to the demand for minerals critical for renewable energy technologies (like lithium for batteries).

Social and Political Dynamics:

Labor: Mining often employs significant numbers of workers, but conditions can be tough, leading to labor disputes. Automation in mining aims to reduce human risk but also affects employment.

Community Impact: Mining operations can bring development to remote areas but also social displacement, health issues, and conflicts over land use and water rights.

International Relations: Countries rich in resources can become focal points for international partnerships or competition, as seen with rare earth elements or, historically, with uranium, like the recent interest in Niger's uranium by countries like Turkey.

Bitcoin and Cryptomining:

Unlike traditional mining, cryptocurrency mining involves solving complex mathematical problems to validate transactions on the blockchain, which requires significant computational power and energy. Recent X posts highlight a growing intersection between digital and physical mining worlds through themes like Bitcoin mining games and the environmental debate around the energy consumption of crypto mining.

This overview captures the multifaceted nature of mining, from its methodologies to its broader implications on society, technology, environment, and global politics. (Grok)

News/Profile via Grok

Mining Industry

The mining industry continues to evolve, influenced by various economic, environmental, technological, and regulatory factors:

Technological Advancements: The industry is seeing a push towards automation and the use of advanced machinery, aiming for efficiency, safety, and reduced environmental impact. Technologies like autonomous drilling systems, AI for exploration and mine planning, and IoT for real-time monitoring of equipment are becoming more common.

Environmental Concerns and Sustainability: There's increasing pressure for the mining industry to adopt more sustainable practices. This includes efforts to reduce water usage, lower emissions, rehabilitate mined lands, and use renewable energy sources in mining operations. The concept of "green mining" is gaining traction, where the focus is on minimizing the environmental footprint throughout the lifecycle of a mine.

Regulatory Changes: Governments around the world are updating mining laws to boost growth while ensuring environmental protection and community rights. For instance, as seen in posts on X, Indonesia has updated its mining regulations to streamline operations but also to ensure compliance and environmental protection.

Demand for Critical Minerals: The rise in demand for electric vehicles and renewable energy technologies has shifted focus towards minerals like lithium, cobalt, nickel, and copper. These are crucial for batteries and electronics, leading to what might be described as a new mining boom for these specific resources.

Economic Impact and Market Dynamics: The mining sector's health often serves as a barometer for global economic activity. Recent sentiment, as reflected on platforms like X, indicates optimism with expectations of increased investment in the sector, though there are calls for more favorable conditions like lower power tariffs and stable policies.

Supply Shortfalls: There's growing concern over supply shortfalls for several key metals due to insufficient current mining output to meet the rising demand, especially for those used in high-tech products and green technologies.

Investment and Expansion: The industry is looking at significant expansion, with equipment industries related to mining expected to grow by a substantial margin. This growth is driven not just by traditional mining but also by the need for new mines to meet the demand for metals critical for the tech and green industries.

Global Perspective: While the U.S. remains a significant player, countries like Australia, with its gold rushes in the past, and now regions in Africa and South America, are central to the global supply of various minerals. The strategic importance of mining in national economies and for global supply chains continues to be a focal point in geopolitical discussions.

Social License to Operate: Mining companies are increasingly aware of the need for a social license, meaning gaining community and societal approval, not just regulatory permits. This involves better engagement with local communities, more transparent operations, and contributing positively to the areas they operate in.

Remember, while these insights reflect general trends and sentiments, the mining industry's specifics can vary greatly by region, the mineral in question, and current global economic conditions. Always consider the latest reports and local news for the most current state of affairs in the mining sector. (Grok)

News

Bitcoin Mining Profile And News via Grok

Bitcoin mining is the process by which new bitcoins are entered into circulation, but it's also a critical component of the maintenance and development of the blockchain ledger. Here's a simplified overview of how it works:

Transaction Verification: Miners collect transactions broadcasted to the network into a block. They verify that these transactions are legitimate according to the rules of the Bitcoin network (e.g., checking for double-spending).

Creating a Block: Once a set of transactions are verified, they are added to a block. Each block contains a reference to the previous block, forming a chain (hence, blockchain).

Proof of Work: Miners must solve a complex mathematical puzzle that requires significant computational power. This puzzle is essentially finding a hash that meets certain criteria (the hash must start with a certain number of zeros). The difficulty of this puzzle adjusts to ensure that a new block is mined approximately every 10 minutes.

Hash: A hash is a function that converts an input of letters and numbers into an encrypted output of a fixed length. In Bitcoin, the SHA-256 hashing function is used.

Finding the Solution: The first miner to solve the puzzle gets to place the next block on the blockchain and claim the rewards. This process involves a lot of trial and error, with miners adjusting a value called the "nonce" in the block header to try to produce a hash that meets the criteria.

Rewards: The successful miner is rewarded with:
Block Reward: A set amount of newly minted bitcoins. This reward halves approximately every four years in what's known as the "halving." As of my last update, the block reward was 6.25 bitcoins, but by 2024, it would have halved again if the schedule continued as planned.
Transaction Fees: All the transaction fees from the transactions included in the block.

Energy Consumption: Bitcoin mining is notorious for its energy consumption due to the computational power required for proof of work. This has led to discussions about the environmental impact of Bitcoin.

Mining Pools: Because the probability of mining a block solo has become very low due to the network's total computational power, many miners join mining pools. Here, miners combine their computational resources and share the block rewards according to the amount of work they contributed to the probability of finding a block.

Equipment: Over time, mining has evolved from using CPUs to GPUs, FPGAs, and now ASICs (Application-Specific Integrated Circuits), which are designed specifically for mining and offer significant efficiency improvements.

Decentralization and Security: The mining process helps to secure the network by making it economically infeasible to attack or alter the blockchain. For an attacker to change any part of the blockchain, they would need to redo the proof of work for all subsequent blocks and outpace the honest nodes, which is impractical without controlling more than 50% of the network's mining power.

Since we're now in 2024, if there have been significant changes or updates to Bitcoin mining practices, technology, or regulations since my last update, those would be worth checking out for the most current information. Would you like me to search for any recent developments in Bitcoin mining? (Grok)

#Mining #MiningNews #MiningIndustry #MiningStocks #Energy #Resources #Technology #Innovation #Blockchaing #Bitcoin #BTC #newsfeed #newsfeeds #newswire #Grok #MiningPR #PR #News #media #mediaman #mediamanint #XMining

Markets and Commodities

November 1, 2024

Australian Dollar: $0.6579 USD (up $0.0009 USD)

Iron Ore Nov Spot Price (SGX): $104.10 USD (up $0.30 USD)

Iron Ore Dec Spot Price (SGX): $103.80 USD (up $0.28 USD)

Oil Price (WTI): $70.51 USD (up $1.57 USD)

Gold Price: $2,746.76 USD (down $38.62 USD)

Copper Price (CME): $4.3600 USD (up $0.0030 USD)

Bitcoin: $69,991.53 USD (down 2.58% in last 24 hours)

Dow Jones: 41,763.46 at 4.09pm NY time (down378.08 points on yesterday's close)

Markets and Commodities

October 17, 2024

Australian Dollar: $0.6670 USD (down $0.0030 USD)

Iron Ore Nov Spot Price (SGX): $104.55 USD (down $1.85 USD)

Oil Price (WTI): $70.52 USD (down $0.39 USD)

Gold Price: $2,673.95 USD (up $12.93 USD)

Copper Price (CME): $4.3665 USD (up 0.0270 USD)

Bitcoin: $67,856.42 USD (up 1.50% in last 24 hours)

Dow Jones: 43,077.70 at 4.20pm NY time (up 337.28 points on yesterday's close)

Markets and Commodities

October 10, 2024

Australian Dollar: $0.6710 USD (down $0.0040 USD)

Iron Ore Nov Spot Price (SGX): $105.15 USD (unchanged - public holiday)

Oil Price (WTI): $73.36 USD (down $0.55 USD)

Gold Price: $2,607.14 USD (down $15.75 USD)

Copper Price (CME): $4.4080 USD (down 0.0605 USD)

Bitcoin: $60,908.07 USD (down 2.11% in last 24 hours)

Dow Jones: 42,512.00 at 4.20pm NY time (up 431.63 points on yesterday's close)

Markets and Commodities

October 4, 2024

Australian Dollar: $0.6840 USD (down $.0040 USD)

Iron Ore Nov Spot Price (SGX): $108.75 USD (down $0.20 USD)

Oil Price (WTI): $73.71 USD (up $2.70 USD)

Gold Price: $2,656.04 USD (down $2.97 USD)

Copper Price (CME): $4.5435 USD (down 0.1195 USD)

Bitcoin: $60,801.67 USD (up 0.09% in last 24 hours)

Dow Jones: 42,011.59 (down 184.93 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

October 4, 2024

ASX futures down 33 points or 0.4% to 8209 near 6am AEST

AUD -0.6% to $US68.44¢

Bitcoin +1.3% to $US60,954

Dow -0.6%

S&P -0.4%

Nasdaq -0.3%

FTSE -0.1%

DAX -0.8%

CAC -1.3%

Gold -0.1% to $US2657.32 an ounce

Brent oil +5.2% to $US77.77 a barrel

Iron ore +0.6% to $US108.75 a tonne

Cryptocurrency News via Media Man and FxPro

September 18. 2024

The crypto market gets a boost from stocks

Market Picture

The crypto market has gained 2.1% in the last 24 hours to reach $2.08 trillion. The rise in the stock market has brought buyers back to Bitcoin, which has positively impacted cryptocurrencies. The sentiment index is still in the fear zone, but at 45, it is already close to neutral territory. This shows that it is lagging stocks where sentiment has shifted to 'greed'.

Bitcoin surpassed $60K, accelerating sharply at the start of the US session. The price peaked at $61.3K before retreating to $60.4K at the time of writing.

Despite some pullback, bitcoin has broken above its 50-day moving average, suggesting significant upside potential. However, it isn't easy to rely on today's technical picture ahead of the Fed's interest rate decision on Wednesday evening. The next important level is likely to be around the $64K, where the late August high and the 200-day average are located.

News Background

JPMorgan sees bitcoin hash rate growth slowing as miner revenues remain at historic lows. Meanwhile, US Bitcoin miners' share of the network hash rate rose for the fifth consecutive month to 26.7%, an all-time high.

MicroStrategy will place $700 million in four-year unsecured convertible notes to acquire additional bitcoins and fund general corporate purposes.

According to Arkham, the Bhutanese government's bitcoin holdings amount to 13,036 BTC ($770 million), almost three times El Salvador's reserves. The country has the world's fourth-largest stockpile of BTCs, derived from mining by a sovereign wealth fund.

The crypto industry is no longer able to provide 'dopamine' to either developers or traders. That is why it is in crisis, said CryptoQuant CEO Ki Young Ju. According to him, the crypto industry is gradually turning into a 'gambling den'.

Developers Curve Finance and TON Foundation will create a platform for trading stablecoins on the TON blockchain. The new initiative will meet the growing demand for stablecoins and increase the liquidity and popularity of the network's Web3 ecosystem.

Markets and Commodities

September 11, 2024

Australian Dollar: $0.6650 USD (down $0.0010 USD)

Iron Ore Oct Spot Price (SGX): $91.00 USD (down $1.35 USD)

Oil Price (WTI): $66.31 USD (down $2.49 USD)

Gold Price: $2,516.51 USD (up $11.13 USD

Copper Price (CME): $4.1050 USD (down 0.0365 USD)

Bitcoin: $57,669.72 USD (down 0.38% in last 24 hours)

Dow Jones: 40,736.96 at 4.59pm NY time (down 92.63 points on yesterday's close)

Market, Commodities and Financial News

Snapshot via Media Man

September 11, 2024

ASX futures down 3 points or 0.04% to 7997 near 6am AEST

AUD -0.1% to 66.58 US cents

Bitcoin +1.4% to $US57,885

Dow -0.3%

S&P +0.4%

Nasdaq +0.8%

FTSE -0.8%

DAX -1.0%

CAC -0.2%

Gold +0.3% to $US2514.88 an ounce

Brent oil -3.2% to $US69.52 a barrel

Iron ore -0.8% to $US91.00 a tonne

Movie Box Office (North America)

September 8, 2024

1. Beetlejuice Beetlejuice - $110m

2. Deadpool and Wolverine - $7.2m

3. Reagan - $5.2m

4. Alien: Romulus - $3.9m

5. It Ends with Us - $3.8m

6. The Forge - $2.9m

7. Twisters - $2.3m

8. Blink Twice - $2.2m

9. Despicable Me 4 - $1.8m

10. The Front Room - $1.7

others ...

Afraid

Inside Out 2

Coraline

The Crow

Trap

Stree 2

Borderlands

Harold and the Purple Crayon

Cuckoo

Longlegs

The Firing Squad

A Quiet Place: Day One

Bad Boys: Ride or Die

The Fabulous Four

Fly Me to the Moon

Raayan

Bad Newz

MaXXXine

The Bikeriders

Sound of Hope: The Story of Possum Trot

Horizon: An American Saga

The Lion King

Kalki 2898 AD

Kinds of Kindness

The Garfield Movie

Kingdom of the Planet of the Apes

Jatt & Juliet 3

Blue Lock Thee Movie - Episode Nagi

Daddio

Janet Planet

The Watchers

The Exorcism

Thelma

GHOST Rite Here Rite Now

Furiosa: A Mad Max Story

The Fall Guy

The Strangers: Chapter 1

The Lord of the Rings: The Fellowship of the Rings

Haikyuu!! The Dumpster Battle

In a Violent Nature

Ezra

Sight

* Correct at time of publication

Markets And Commodities

August 20, 2024

Australian Dollar: $0.6728 USD (up $0.0063 USD)

Iron Ore Sep Spot Price (SGX): $95.00 USD (up $2.70 USD)

Oil Price (WTI): $74.43 USD (down $2.22 USD)

Gold Price: $2,504.11 USD (down $4.07 USD)

Copper Price (CME): $4.1975 USD (up $0.0470 USD)

Bitcoin: $59,144.75 USD (down 1.09% in last 24 hours)

Dow Jones: 40,896.53 (up 236.77 points on Friday's close)

News via Media Man and FxPro

August 16, 2024

Gold: Third Time Lucky?

Gold has been rising steadily since the end of last week and is attempting to consolidate above $2470 per troy ounce on the spot market for the third time in the last 30 days. Gold has moved in tandem with equities this month, but it is worth noting that it fell less aggressively during the panic and outpaced the rally.

So, gold is riding on a global recovery in demand for risk assets, but it has the fundamental support in its arsenal that has pushed the price to repeated all-time highs since March.

A trend line can be drawn across the local lows of May from which gold rallied in the early days of August. Combined with local resistance at $2475, this forms a bullish triangle with a high probability of a breakout.

The next upside target is $2500. This is the psychologically important round level and the resistance line of the uptrend drawn by the April, May and July highs.

As far as more distant growth targets are concerned, the $2800-2900 area is worth mentioning. The upper boundary of this range is the 261.8% Fibonacci level of growth from the September-October 2022 lows to the April 2023 highs.

The lower boundary of the range is formed by the 161.8% level of the growth impulse from the October lows to the April-May highs. This rally began with the first signs of a shift in the Fed's monetary policy, supported by tensions in the Middle East and the desire of some central banks to diversify their reserves away from the dollar.

News

Dollar and risk appetite rise on upbeat data

Weak macro data in early August triggered a simultaneous sell-off in equities and the dollar on fears of an economic meltdown. Over the past ten days, however, several important statistical releases have changed expectations.

Thursday's retail sales and weekly jobless claims figures triggered a simultaneous rise in the dollar and equities, a rare and volatile phenomenon in US markets.

Retail sales rose 1% in July, a decisive step higher after three months of fluctuating around 0.2%. Excluding autos, sales rose 0.4%, after gains of 0.8% and 0.3% in the previous two months. The nominal year-on-year increase of 2.8% does not cover inflation (2.9%), but it is not yet a nominal contraction as in the recessions of 2008 and 2020.

The weekly jobless claims data continues to be positive. Initial claims fell by 7k after falling by 16k to 227k, the lowest level in five weeks. Almost exactly a year ago, there was a similar spike in claims, but it did not lead to a sustained rise in the number, and the labour market has been surprisingly strong for many months.

The dollar has rallied on the back of these reports as markets revise expectations for the pace of interest rate cuts in the coming months. This move may be an attempt by the dollar to reverse the downtrend that has been in place since April and accelerated in August.

The positive reaction of stock indices in the short term is understandable, as it calms fears of a recession. In the longer term, however, higher bond yields will limit the buying of equities.

News

US inflation hardly justifies a 50 b.p. cut

August 15, 2024

The US inflation report was in line with expectations, showing a 0.1 percentage point slowdown in July to 2.9% y/y for the headline measure and 3.2% y/y for the core measure, which excludes food and energy.

Tuesday's producer price data showed a marked slowdown in the annual rate of growth, from 2.7% to 2.2% y/y for the headline index and from 3.0% to 2.4% for the core index. Just as importantly, the data came in below average analyst estimates, triggering a wave of dollar selling.

The markets have been convinced for some time that the Fed will begin a cycle of rate cuts in September. The main speculation is for a move of 0.25 or 0.50 percentage points. At the time of writing, interest rate futures are pricing in a 36% chance of a half-point cut at once. However, these expectations have weakened since 5 August due to reduced labour market concerns.
The inflation data alone does not provide a case for a rate cut, let alone a 50-point cut in September and a 100-point cut by the end of the year (the most likely scenario, according to FedWatch estimates). While inflation is on a downward trajectory, it's been above the 2% target for three and a half years. And it will take a prolonged period of below-target price increases for the Fed to implement its "average over the period" inflation strategy.

It is also worth considering the impressive pullback in oil and agricultural commodity prices to 4–6-year lows. Their recovery from extreme lows is likely to be a side effect of policy easing and could trigger a new wave of price increases, as happened in the 1980s.

Only the labour market is seen as a real reason for the Fed to change policy, so mentioning its cooling was an important point in the official FOMC commentary on monetary policy. However, we believe that attention should also be paid to indicators of consumer activity, including Thursday's retail sales data, the stagnation of which has become an important harbinger of the global financial crisis.

Bitcoin drops 10pc as rout deepens

August 5, 2024

Bitcoin is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the collapse of the FTX exchange in 2022.

The original cryptocurrency sank more than 10 per cent at one point before paring some of the decline to trade at $US54,333 ($83,590). The token lost 13.1 per cent in the seven days through Sunday, the most since the FTX bankruptcy period. Smaller tokens such as ether and meme-crowd favourite dogecoin also nursed heavy losses.

The declines come as a global stock sell-off intensifies, reflecting concerns about the economic outlook and questions over whether heavy investment into artificial intelligence will live up to the hype surrounding the technology. Geopolitical tension is rising in the Middle East, adding to investor skittishness.

Bitcoin exchange traded funds in the US suffered their largest outflows in about three months on August 2. The digital asset has also tumbled through its 200-day moving average price.

The latter technical chart pattern “opens the way for a deeper pullback” towards $54,000, Tony Sycamore, market analyst at IG Australia, wrote in a note.

Bitcoin has been buffeted by a range of factors since hitting a record of $US73,798 in March, including shifting political fortunes in the US as pro-crypto Republican Donald Trump and his Democratic opponent, Vice President Kamala Harris – who has yet to detail a digital-asset policy stance – lock horns in the presidential race. (AI News, Wires)

Cryptocurrency News via Media Man and FxPro

FxPro

PxPro: News

Cryptocurrency News via Media Man and FxPro

July 8, 2024

Crypto Bargain-hunters are back

Market picture

Bargain hunters are showing themselves in full force in crypto. Cryptocurrency market capitalisation rose 3.6% in 24 hours to $2.11 trillion, climbing back to the top of the range of the past five days. It will take the market to rise another 2% before we can say that the bear attack has been repelled. Until then, we can only talk about consolidation after the sell-off.

Bitcoin rebounded to $57.3K after a couple of dips to $54K, sticking to its descending channel that has been in force since March, but the price is very dangerously stuck at the bottom of this corridor. This situation makes us fear an acceleration of the sell-off with a potential target in the $50-51K area, where the crypto market was stagnant in February.

Ethereum trades at $3050 and remains below the 200-day moving average but has not given up trying to climb higher. Here, ETH has a strong support line, which also attracted buyers in April and May. More on the bulls' side is that the RSI on daily timeframes rises from oversold territory. These are promising technical signals, but the sustained sell-off from the US and German governments and the overhang of selling from Mt Gox lenders is clearly undermining the confidence of too many buyers.

News background

According to CoinShares, investments in crypto funds rose by $441 million last week for the first time after three weeks of outflows. Bitcoin investments increased by $398 million, Solana by $16 million, Ethereum by $10 million.

Recent price declines, driven by potential selling pressure from Mt Gox and the German government, were probably seen as a buying opportunity. Inflows into BTC accounted for only 90% of the total inflows, as investors chose to invest in a much broader set of altcoins. The most notable of these was Solana, which has received $57 million in investments since the beginning of the year, making it the most efficient altcoin in terms of flows, CoinShares noted.

German authorities continue to transfer Bitcoins to exchanges. On 8 July, two 250 BTC transfers were made to Coinbase and Bitstamp platforms. Transactions of 700 BTC and 500 BTC followed to unidentified Arkham numbers.

The Bitstamp exchange promised to distribute the payments from Mt Gox "as soon as possible," despite having a 60-day deadline. So far, only Japanese BitBank and SBI VC Trade addresses have been distributed coins. The three remaining recipients - Bitstamp, Kraken and BitGo - are still awaiting their turn. The trustee has 94,771 BTC (~$5.4bn) left to send.

Bitfinex points out signs of a potential end to the market correction. Short-term investor selling is potentially close to exhaustion. Meanwhile, the funding rate for perpetual BTC contracts has turned negative for the first time since 1 May.

Sports News Update

X's Grok Helps Keep Online Publishers, Newsrooms Up To Speed; Media Man

August 2, 2024

News

U.F.C. Abu Dhabi Fight Card

The UFC event in Abu Dhabi on August 3rd, 2024, is generating significant discussion among fans and analysts. The main event features Umar Nurmagomedov against Cory Sandhagen, with Nurmagomedov being favored by many. The card includes other notable fighters like Deiveson Figueiredo, Marlon Vera, and Shara. Predictions and betting odds are being shared across social media, and Khabib Nurmagomedov is expected to be in Umar's corner. The event is free to watch on ABC Network, further enhancing its accessibility and viewership. Tony Ferguson has expressed his desire to continue fighting in the UFC, while other fighters like Figueiredo and Vera are also generating interest among fans. The event promises to be an exciting showcase of talent and competition in the world of mixed martial arts. (Grok)

News

UFC Abu Dhabi Event

The upcoming UFC event in Abu Dhabi on August 2, 2024, is generating significant buzz, featuring a main event between undefeated Umar Nurmagomedov and Cory Sandhagen. The event is free to watch on ABC Network and includes notable fighters such as Deiveson Figueiredo and Marlon Vera. The card also features Tony Ferguson, who has expressed his desire to continue fighting in the UFC. The event is anticipated to be a major one, with Khabib Nurmagomedov expected to be in Umar's corner. Betting predictions and discussions are prevalent across social media platforms, with various analysts and fans sharing their insights and picks for the fights.

News

Survivor Series: WarGames in Vancouver

WWE has announced that Survivor Series 2024 will be held in Vancouver, Canada, marking the first WWE pay-per-view event in the city since 1998. The event, featuring the WarGames match format, is scheduled for November 30 at Rogers Arena. This decision has sparked excitement among wrestling fans and local residents, with many expressing enthusiasm about attending the event in Vancouver. (Grok)

News

SummerSlam Predictions and Anticipation

WWE SummerSlam 2024 is generating significant anticipation among fans, with many expressing excitement and making predictions about the outcomes of various matches. Key discussions revolve around potential returns of prominent wrestlers such as Roman Reigns and The Rock, as well as the outcomes of matches like Cody Rhodes vs. Solo Sikoa and Liv Morgan vs. Rhea Ripley. The event is set to feature a variety of matches that fans are eagerly awaiting, including those involving LA Knight, Logan Paul, and Gunther. The overall sentiment is one of excitement and speculation, with fans looking forward to a thrilling event. (Grok)

News

Rampage Debuts for MxM & Private Party on AEW

All Elite Wrestling (AEW) is gearing up for an exciting lineup of events, including the highly anticipated All In event scheduled for August 25, 2024. The event is generating significant buzz among fans and is anticipated to surpass the success of the previous year's event. The card for All In features high-stakes matches such as Bryan Danielson putting his career on the line against Swerve, MJF facing Will Ospreay, and a tag team grudge match involving Darby Allin, FTR, and ROH Champion Sussex Co. Chicken against formidable opponents. AEW is also promoting other shows like AEW Dynamite and AEW Rampage, which feature matches like Hangman Page vs. Darby Allin and MxM Collection's debut against Private Party, respectively. The promotion is leveraging various platforms and media to engage with fans and build anticipation for these events. (Grok)

News

Crawford vs Madrimov: Pre-Fight Press Conference

Terence Crawford and Israil Madrimov are set to face off in a highly anticipated boxing match on August 3rd, as part of the Riyadh Season Card. The event, which will be available on PPV, has generated significant buzz among boxing fans and media. The undercard for the event is also noted for its quality, featuring a heavyweight bout between Andy Ruiz Jr. and Jarrell Miller, as well as other notable fights. The event is expected to be a major draw, with fans eagerly anticipating the outcome of the main event between Crawford and Madrimov. (Grok)

News

TNA Wrestling: Rascalz vs. Bailey, Seven & KUSHIDA

TNA Wrestling's iMPACT episode on August 1, 2024, featured a lineup of exciting matches and events. The show included a TNA World Title match between Nic Nemeth and Mustafa Ali, as well as the wedding of PCO and Steph De Lander. Other matches included The Rascalz in action against Mike Bailey, Trent Seven, and KUSHIDA in a six-man tag team match, Frankie Kazarian vs. Ryan Nemeth, and Jody Threat vs. Masha Slamovich. The event was broadcasted on various platforms including TNA+, AXS TV, DAZN, and YouTube, catering to a wide audience. Fans and wrestling enthusiasts expressed their anticipation and excitement for the event across social media platforms. (Grok)

ROH

Ring of Honor (ROH) is a professional wrestling promotion recently acquired by Tony Khan, CEO of All Elite Wrestling (AEW), Chief Football Strategy Officer of the Jacksonville Jaguars, and GM/Sporting Director of Fulham F.C. ROH has been holding events and television tapings, with notable developments including Sammy Guevara's return to help Dustin Rhodes against the Dark Order at the July 28th tapings. The promotion has been building new stars and continues to feature high-profile matches and events. (Grok)

News

WWE 2K24 Online Stability Hotfix

WWE 2K24 released Patch 1.14 to address online stability issues, which was automatically applied upon game loading. The update aimed to fix problems with the Pat McAfee Show Pack DLC for PS5 users, which was resolved, allowing the pack to be downloaded. However, the patch also caused issues with mods on PC, and some users reported problems with Titantrons in create an entrance and the unavailability of DLC for PlayStation 5 users. Despite these issues, WWE 2K24 encouraged players to participate in a giveaway for SummerSlam and provided a locker code for 7500 VC. (Grok)

Max Verstappen's Potential Mercedes Move

Speculation is rife about Max Verstappen potentially joining Mercedes, fueled by recent high-profile departures from Red Bull Racing. Despite the rumors, some fans express skepticism about the likelihood of such a move. The discussion also touches on the stability of other drivers' positions within their teams, with some questioning the rationale behind certain team decisions. Additionally, there is discussion about the performance comparison between Verstappen and his teammate, Perez, at Red Bull Racing. (Grok)

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Wheatley's Move from Red Bull to Audi F1

Jonathan Wheatley, the long-serving sporting director at Red Bull Racing, is set to leave the team at the end of the 2024 season to become the new team principal of the Audi Formula 1 project. This move has been confirmed by Red Bull and widely reported across various Formula 1 news outlets. Audi has not officially commented on Wheatley's appointment, and there are indications that they were not expecting the announcement. Wheatley's departure marks a significant change in leadership for Red Bull and a notable acquisition for Audi as it prepares to enter Formula 1. The transition is expected to take place after the 2024 season, with Wheatley remaining in his current role until then. (Grok)

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WWE NXT Great American Bash Week One

The WWE NXT Great American Bash kicked off with a series of exciting matches and events, including a WWE Women's Tag Team Championship match where Alba Fyre & Isla Dawn defended their titles against Jakara Jackson & Lash Legend. Other highlights included a NXT Women’s Championship match between Roxanne Perez and Thea Hail, a live concert by Joe Hendry, and a NXT Heritage Cup match between Tony D'Angelo and Tavion Heights. Fans and commentators expressed excitement and anticipation for the event, with many rooting for their favorite wrestlers and speculating on potential outcomes. (Grok)

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NXT Women's Championship: Roxanne Perez Retains

Roxanne Perez successfully defended her NXT Women's Championship against Thea Hail in a highly acclaimed match at NXT GAB. The match was praised for its intensity and the young ages of the competitors, with both being under 23 years old. The event also featured other notable matches, including Joe Hendry expressing frustration with Gallus and a confirmed match between Joe Hendry and Joe Coffey for the following week. The overall event was well-received, highlighting the talent and potential of the NXT roster. (Grok)

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Bowlin Graham's Pocono Win Secures Playoff Spot

Graham Bowlin secured a spot in the 2024 eNASCAR Coca-Cola iRacing Series playoffs with a win at Pocono Raceway. Despite missing out on the playoffs, drivers from Spire Motorsports expressed pride in their team's efforts. Nick Ottinger also secured a playoff spot, marking the seventh consecutive season Team Conti has fielded at least one car in the post-season. The playoff lineup includes Steven Wilson, Parker White, Nick Ottinger, Graham Bowlin, Vicente Salas, Bobby Zalenski, Tucker Minter, Garrett Lowe, Dylan Duval, and Daniel Faulkingham. (Grok)

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CM Punk's Top 5 Wrestlers of All Time

During an interview on ESPN's First Take, CM Punk named his top-5 wrestlers of all time, which included Harley Race, Terry Funk, Stone Cold Steve Austin, Eddie Guerrero, and initially Ricky Steamboat, but he later switched to Roddy Piper. This selection sparked discussions among fans and commentators, with some expressing surprise at the absence of Bret Hart from the list. Punk also highlighted Stone Cold Steve Austin as the biggest superstar in the industry. The interview took place ahead of SummerSlam 2024, which is set to occur in a few days, generating anticipation among wrestling fans. (Grok)

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Cedric Alexander's NXT Victory

Cedric Alexander emerged victorious in a match against Brooks Jensen on the WWE NXT show. The win was unexpected by some fans and commentators, and it was celebrated by many on social media. The event also featured other matches and announcements, including a promo by Pete Dunne about his upcoming match with Trick Williams. (Grok)

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UFC Abu Dhabi Event

The Ultimate Fighting Championship (UFC) is set to host a highly anticipated event in Abu Dhabi this Saturday, featuring a stacked card of fights. Notable fighters on the card include Tony Ferguson, Cory Sandhagen, and Mackenzie Dern. The event is free and open to the public, with a live broadcast on various platforms. Fans and analysts are discussing the matchups and sharing their predictions and betting tips for the fights. Cory Sandhagen is a key focus of the event, with many fans and analysts predicting a strong performance from him in his fight against Umar Nurmagomedov. (Grok)

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AEW Returns and Criticisms

The recent episode of AEW's Dynamite received mixed reactions from fans and critics, sparking discussions on various aspects of the show. Topics included the return of a star after a five-month absence, the company's approach to pushing certain talents, and comparisons between AEW and WWE. Some fans expressed disappointment in the show's content and booking decisions, while others praised specific moments and storylines. The discourse highlighted a range of opinions and critiques regarding AEW's current direction and its relationship with its audience and competitors. (Grok)

News

AEW Collision Viewership Drop Amid Summer Events

AEW Collision viewership experienced a significant drop, averaging 383,000 viewers with a 0.12 P18-49 rating, marking a 19% decrease from the previous week. This decline was attributed to tough competition from the Olympics. Meanwhile, WWE's SummerSlam is generating anticipation, with fans expressing mixed feelings about the event and the potential outcomes for their favorite wrestlers. (Grok)

News

Grok Search: TNA Wrestling

Total Nonstop Action Wrestling (TNA) is an American professional wrestling promotion founded in 2002 by Jeff Jarrett and Jerry Jarrett. It is currently owned by Anthem Sports & Entertainment and is based in Nashville, Tennessee. TNA was initially known as NWA: Total Nonstop Action until 2004 when it rebranded to its current name.

TNA has been known for its innovative matches and storylines, and it has featured many notable wrestlers such as Kurt Angle, Sting, AJ Styles, Samoa Joe, and Jeff Hardy. The promotion has also been praised for its women's division, known as the Knockouts Division, which features some of the top female wrestlers in the world.

TNA has faced a number of challenges over the years, including changes in ownership and a decline in viewership. However, the promotion has continued to produce entertaining and innovative content, and it remains a significant player in the world of professional wrestling. (Grok)

News

Umar vs Sandhagen for Title Shot

Umar Nurmagomedov is set to face Cory Sandhagen at UFC Abu Dhabi, with the winner potentially earning a title shot against the victor of the Sean O'Malley vs Merab Dvalishvili bout. The event also features Tony Ferguson, who is looking to make a comeback. The fight card is generating significant interest and betting activity among fans and analysts. Additionally, there are discussions about potential matchups for Shakur Stevenson, including a verbal agreement for a fight with William Zepeda, although no official agreement has been reached yet. The event is also notable for Khabib Nurmagomedov's involvement in Umar's corner. (Grok)

News

Ruiz vs Miller: Boxing Showdown in Riyadh

On August 3, 2024, a significant boxing event is set to take place featuring several high-profile matches. The main event includes a face-off between Andy Ruiz and Jarrell Miller, which has garnered significant attention and anticipation. Other notable fights on the card include a matchup between Isaac Pitbull and Jose Valenzuela, which is expected to be a highlight of the evening. Additionally, the event features the return of Andy Cruz against Antonio Moran, adding to the excitement. The event is part of the Riyadh Season and will be broadcasted on ESPN Plus PPV. (Grok)

News

Russell Disqualified, Hamilton Wins Belgian GP

Lewis Hamilton was declared the winner of the Belgian Grand Prix after his teammate George Russell was disqualified for having an underweight car. Russell initially crossed the line first but was stripped of his win due to the technical violation. Hamilton's victory marked his second win in three races, sparking discussions among fans and commentators about the nature of his win and Russell's performance. The disqualification also led to Oscar Piastri being promoted to second place, and Charles Leclerc finishing third for Ferrari. (Grok)

News

F1 Drivers Pole Positions and Race Outcomes Debate

In recent Formula 1 races, Charles Leclerc has been praised for his ability to secure pole positions and maintain leads in a slower car, contrasting with Lando Norris's performance in a faster car. Max Verstappen has consistently performed well, often starting from lower positions and finishing higher, despite debates about the relative performance of his car. The current season is highly competitive, with several drivers from different teams closely competing in points, highlighting the tight competition in Formula 1. (Grok)

News

US Women's Rugby Wins First Olympic Medal

The United States women's rugby sevens team won their first Olympic medal, a bronze, in a dramatic match against Australia at the 2024 Paris Olympics. The victory was sealed by a last-minute try and conversion by Alex Sedrick. Meanwhile, Simone Biles led the United States to a dominant victory in the women's gymnastics team final, securing her fifth career Olympic gold medal and becoming the most decorated U.S. Olympic gymnast in history with a total of 8 medals. (Grok)

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July 1, 2024

Buyers failed to pick up on the crypto market

Market picture

The crypto market has been enjoying an influx of buyers since Saturday, with a visible acceleration on Monday. Over the past 24 hours, capitalisation has risen 3.6% to $2.33 trillion. Last week’s drop in the crypto sentiment index to 30 (fear zone) reversed the price twice, showing that the market is dominated by a ‘buy the dip’ pattern.

Bitcoin is trading near $63.3K, adding 5% since Saturday morning and reaffirming the importance of support at 61.8% of the Jan-March rally. From another perspective, Bitcoin is adding and bouncing off the lower boundary of the downward channel. Likely, the price is now moving towards the upper boundary at $67K. However, cautious buyers may prefer to wait for confirmation with the price rising above $72-73K - the pivot area of the last four months - which would be confirmation of the start of a new impulsive wave of growth.

Bitcoin ended June down 8.5% to $61.9K. In terms of seasonality, July is considered quite successful for BTC, adding eight times (22.3% on average) out of the last 13 and declining on five occasions (-7.8% on average).

News background

In terms of on-chain analysis, quotes have crossed the realised price level of short-term holders at $62,000, which historically can act as support during corrections in bull markets.

According to Arkham data, German authorities sent another 595 BTC worth ~$36.6 million to crypto exchanges on 26 June. Authorities began actively moving the cryptocurrency on 19 June, when some of it first hit the Kraken and Bitstamp exchanges.

Bitwise forecasts net inflows into spot ETH-ETFs in the US of $15bn in the first 18 months. Bloomberg expects trading in the new product to start on 2 July.

Solana Foundation has launched tools that enable it to turn any website or app into a gateway for cryptocurrency payments and other blockchain transactions.

On 26 June, the Blast development team completed the first phase of an airdrop, distributing 17 billion BLAST tokens (17% of the total issuance). Blast is an Ethereum-based layer 2 (L2) network that was launched in November 2023 by Blur founder under the pseudonym Pacman. In terms of blockchain value locked (TVL), the Blast ecosystem is ranked sixth in the DeFi Llama ranking with a value of $1.58bn.

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Donald Trump to Headline Bitcoin 2024 Conference in Nashville

July 11, 2024

Former President Donald Trump has been confirmed as a keynote speaker at the upcoming Bitcoin 2024 conference set to take place in Nashville, Tennessee.

This news comes as a significant development for the event, known for its major industry announcements and influential speakers. The conference, which has previously been hosted in Miami, has established itself as a platform for groundbreaking news within the cryptocurrency space.

Bitcoin 2021, the inaugural conference, made headlines when El Salvador officially declared Bitcoin as legal tender. The subsequent Bitcoin 2022 and Bitcoin 2023 conferences continued the trend of notable moments, including a powerful speech by U.S. Presidential candidate Robert F. Kennedy Jr. in support of the Bitcoin industry.

This year, the shift of the conference location from Miami to Nashville signifies its increasing prominence on the global stage. With two former U.S. Presidential candidates, Robert F. Kennedy Jr. and Donald Trump, slated to speak, Bitcoin 2024 is anticipated to be a pivotal event that could potentially impact the future trajectory of Bitcoin and cryptocurrency policies in the United States.

Donald Trump’s participation in the conference is especially noteworthy considering his recent engagements with the Bitcoin community. Earlier this year, Trump met with prominent U.S. Bitcoin miners, including representatives from CleanSpark, where he reiterated his support for Bitcoin mining both domestically and internationally. In a statement, Trump pledged to prioritize the development of Bitcoin and crypto initiatives in the United States and safeguard the rights of the nation’s 50 million crypto holders if re-elected as president.

As Trump embarks on his presidential campaign, his alignment with the Bitcoin industry stands in contrast to the position of his potential rival, President Joe Biden, who has shown less enthusiasm towards the cryptocurrency sector. While Biden’s participation in Bitcoin 2024 remains unconfirmed, the event could underscore the divergent approaches of the two candidates towards Bitcoin and its implications for U.S. policies.

For additional details on the Bitcoin 2024 conference and to secure a discounted ticket using a promotional code, interested individuals can visit the official event website. Bitcoin Magazine, a subsidiary of BTC Inc, the organizer of the largest Bitcoin conference, The Bitcoin Conference, will be overseeing the event.

Websites

Bitcoin 2024
https://b.tc/conference/2024

Bitcoin Magazine
https://bitcoinmagazine.com